Syntroleum Announces Q1 Results

Syntroleum Corporation today announced financial results for the quarter ended March 31, 2008.

For the quarter, the company reported revenues of $1.6 million compared to revenues of $13.7 million for 2007. The company maintained a cash position of $23.9 million compared to a cash position of $18.4 million at December 31, 2007, while Net cash used in operating activities was $1.5 million for the first quarter of 2008 compared to net cash used in operating activities of $6.9 million for the same period last year.

Total costs and expenses of $3.1 million for the first quarter of 2008 compared to $9.8 million for the same period last year and total general and administrative expenses were $2.0 million for the first quarter of 2008 compared to $8.8 million for the same period last year.

The company also announced that the Dynamic Fuels joint venture with Tyson Foods was proceeding on schedule and on budget, with plant sanction anticipated at the end of the second quarter of 2008.



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